Janney Montgomery Scott LLC raised its holdings in shares of Trinity Industries Inc (NYSE:TRN) by 510.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 39,881 shares of the transportation company’s stock after purchasing an additional 33,345 shares during the period. Janney Montgomery Scott LLC’s holdings in Trinity Industries were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in shares of Trinity Industries in the 2nd quarter worth $130,000. Meeder Asset Management Inc. bought a new stake in shares of Trinity Industries in the 3rd quarter worth $170,000. KBC Group NV raised its stake in shares of Trinity Industries by 108.0% in the 2nd quarter. KBC Group NV now owns 5,637 shares of the transportation company’s stock worth $193,000 after buying an additional 2,927 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Trinity Industries in the 3rd quarter worth $202,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Trinity Industries in the 3rd quarter worth $202,000. 81.75% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on TRN. UBS Group downgraded Trinity Industries from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Buckingham Research boosted their price objective on Trinity Industries from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, October 5th. Stifel Nicolaus boosted their price objective on Trinity Industries from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, October 5th. Vertical Group raised Trinity Industries from a “sell” rating to a “hold” rating in a research note on Thursday, September 20th. Finally, Mizuho reissued a “buy” rating and issued a $48.00 price objective on shares of Trinity Industries in a research note on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Trinity Industries presently has an average rating of “Hold” and an average price target of $33.44.
Trinity Industries (NYSE:TRN) last announced its earnings results on Wednesday, October 24th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $930.90 million for the quarter, compared to analyst estimates of $969.60 million. Trinity Industries had a return on equity of 5.38% and a net margin of 18.57%. During the same period last year, the firm earned $0.43 earnings per share. Equities research analysts predict that Trinity Industries Inc will post 1.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Friday, October 12th. Trinity Industries’s dividend payout ratio (DPR) is presently 34.21%.
About Trinity Industries
Trinity Industries, Inc provides various products and services to the energy, chemical, agriculture, transportation, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, including autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and railcar maintenance services.
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